Sanford C. Bernstein Has Lowered Expectations for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price dropped by equities research analysts at Sanford C. Bernstein from C$37.00 to C$36.00 in a report issued on Tuesday, BayStreet.CA reports. Sanford C. Bernstein’s price target suggests a potential upside of 37.35% from the company’s current price.

A number of other brokerages also recently issued reports on ABX. Eight Capital upped their price objective on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. UBS Group downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Stifel Nicolaus raised their target price on Barrick Gold from C$28.50 to C$33.50 in a research report on Monday, October 21st. Finally, TD Securities reiterated a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of C$31.14.

Barrick Gold Trading Down 0.2 %

Shares of ABX stock traded down C$0.06 during trading hours on Tuesday, hitting C$26.21. 743,158 shares of the company were exchanged, compared to its average volume of 3,539,388. The company has a 50 day simple moving average of C$27.44 and a two-hundred day simple moving average of C$25.05. The firm has a market cap of C$45.87 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.50.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. The company had revenue of C$4.33 billion for the quarter, compared to analyst estimates of C$4.12 billion. Equities analysts anticipate that Barrick Gold will post 2.2422764 EPS for the current year.

Insiders Place Their Bets

In related news, Director Andrew James Quinn acquired 5,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of C$26.00 per share, for a total transaction of C$129,999.00. In other Barrick Gold news, Director Andrew James Quinn bought 5,000 shares of Barrick Gold stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of C$26.00 per share, with a total value of C$129,999.00. Also, Senior Officer Joel James Holliday sold 20,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$27.36, for a total value of C$547,298.10. Over the last quarter, insiders have sold 235,334 shares of company stock worth $5,741,477. 0.60% of the stock is currently owned by company insiders.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.